Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. In addition, BlackRock 2022
Global Income Opportunity Trust (NYSE: BGIO) declared a special
distribution.
Taxable Municipal Fund:
Declaration- 12/19/2019 Ex-Date-
12/30/2019 Record-12/31/2019
Payable- 1/9/2020
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Taxable Municipal Bond Trust
BBN
$0.111800
-
Taxable Funds: Declaration-
12/19/2019 Ex-Date- 12/30/2019
Record-12/31/2019
Payable- 1/9/2020
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Floating Rate Income Trust
BGT
$0.076400
-
BlackRock Core Bond Trust*
BHK
$0.067600
-
BlackRock Multi-Sector Income Trust*
BIT
$0.123700
-
BlackRock Income Trust, Inc.*
BKT
$0.034400
-
BlackRock Limited Duration Income
Trust
BLW
$0.098100
-
BlackRock Credit Allocation Income
Trust*
BTZ
$0.083900
-
BlackRock Debt Strategies Fund, Inc.*
DSU
$0.071100
-
BlackRock Enhanced Government Fund,
Inc.*
EGF
$0.041000
-
BlackRock Floating Rate Income Strategies
Fund, Inc.
FRA
$0.078800
-
BlackRock Corporate High Yield Fund,
Inc.*
HYT
$0.077900
-
BlackRock 2022 Global Income Opportunity
Trust
BGIO
$0.050000
-
Special Distributions Declaration-
12/19/2019 Ex-Date- 12/30/2019
Record-12/31/2019
Payable- 1/9/2020
Fund
Ticker
Taxable Net Investment Income
BlackRock 2022 Global Income Opportunity
Trust
BGIO
$0.016950
* In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended (the “1940 Act”), each
of the Funds noted above posted to the DTC bulletin board and sent
to its shareholders of record as of the applicable record date a
Section 19 notice with the previous distribution payment. The
Section 19 notice was provided for informational purposes only and
not for tax reporting purposes. This information can be found in
the “Closed-End Funds” section of www.blackrock.com. As
applicable, the final determination of the source and tax
characteristics of all distributions in 2019 will be made after the
end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE: EGF), BlackRock
Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate
Income Strategies Fund, Inc. (NYSE:FRA), BlackRock Floating Rate
Income Trust (NYSE:BGT), BlackRock Corporate High Yield Fund, Inc.
(NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ),
BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core
Bond Trust (NYSE:BHK), and BlackRock Multi-Sector Income Trust
(NYSE:BIT) (collectively, the “Plan Funds”) have adopted a managed
distribution plan (a “Plan”) to support a level distribution of
income, capital gains and/or return of capital. The fixed
amounts distributed per share are subject to change at the
discretion of each Plan Fund’s Board of Directors/Trustees.
Under its Plan, each Plan Fund will distribute all available
investment income to its shareholders, consistent with its
investment objectives and as required by the Internal Revenue Code
of 1986, as amended (the “Code”). If sufficient investment income
is not available on a monthly basis, each Plan Fund will distribute
long-term capital gains and/or return capital to its shareholders
in order to maintain a level distribution.
The Plan Funds’ estimated sources of the distributions paid as
of December 19, 2019 and for its current fiscal year are as
follows:
Estimated Allocations as of December
19, 2019
Fund
Distribution
Net Investment Income
Net Realized Short- Term
Gains
Net Realized Long- Term Gains
Return of Capital
EGF1
$0.041000
$0.027609 (67%)
$0 (0%)
$0 (0%)
$0.013391 (33%)
DSU1
$0.071100
$0.061597 (87%)
$0 (0%)
$0 (0%)
$0.009503 (13%)
FRA
$0.078800
$0.078800 (100%)
$0 (0%)
$0 (0%)
$0 (0%)
BGT
$0.076400
$0.076400 (100%)
$0 (0%)
$0 (0%)
$0 (0%)
HYT1
$0.077900
$0.068312 (88%)
$0 (0%)
$0 (0%)
$0.009588 (12%)
BTZ1
$0.083900
$0.060677 (72%)
$0 (0%)
$0 (0%)
$0.023223 (28%)
BLW
$0.098100
$0.098100 (100%)
$0 (0%)
$0 (0%)
$0 (0%)
BHK1
$0.067600
$0.056538 (84%)
$0 (0%)
$0 (0%)
$0.011062 (16%)
BIT1
$0.123700
$0.057532 (47%)
$0 (0%)
$0 (0%)
$0.066168 (53%)
Estimated Allocations for the Fiscal
Year through December 19, 2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
EGF1
$0.451000
$0.352720 (78%)
$0 (0%)
$0 (0%)
$0.098280 (22%)
DSU1
$0.692800
$0.673202 (97%)
$0 (0%)
$ 0 (0%)
$0.019598 (3%)
FRA
$0.305900
$0.305900 (100%)
$0 (0%)
$ 0 (0%)
$0 (0%)
BGT
$0.152800
$0.152800 (100%)
$0 (0%)
$0 (0%)
$0 (0%)
HYT1
$0.305700
$0.274045 (90%)
$0 (0%)
$0 (0%)
$0.031655 (10%)
BTZ1
$0.167800
$0.139355 (83%)
$0 (0%)
$0 (0%)
$0.028445 (17%)
BLW
$0.373800
$0.373800(100%)
$0 (0%)
$0 (0%)
$0 (0%)
BHK1
$0.262800
$0.225926 (86%)
$0 (0%)
$0 (0%)
$0.036874 (14%)
BIT1
$0.247400
$0.181232 (73%)
$0 (0%)
$0 (0%)
$0.066168 (27%)
1The Plan Fund estimates that it has distributed more than its
income and net-realized capital gains in the current fiscal year;
therefore, a portion of your distribution may be a return of
capital. A return of capital may occur, for example, when some or
all of the shareholder’s investment is paid back to the
shareholder. A return of capital distribution does not necessarily
reflect the Plan Fund's investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the Plan Fund’s net
asset value per share.
The amounts and sources of distributions reported are only
estimates and are not provided for tax reporting purposes. The
actual amounts and sources of the amounts for tax reporting
purposes will depend upon each Plan Fund’s investment
experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. Each Plan Fund will
send you a Form 1099-DIV for the calendar year that will tell you
how to report these distributions for federal income tax
purposes.
Fund Performance and Distribution Rate
Information:
Fund
Average annual total return (in
relation to NAV) for the 5-year period ending on 11/29/2019
Annualized current distribution
rate expressed as a percentage of NAV as of 11/29/2019
Cumulative total return (in
relation to NAV) for the fiscal year through 11/29/2019
Cumulative fiscal year
distributions as a percentage of NAV as of 11/29/2019
EGF
1.91%
3.62%
4.02%
3.02%
DSU
6.23%
7.03%
13.49%
5.12%
FRA
5.03%
6.54%
10.89%
1.57%
BGT
5.07%
6.55%
10.59%
0.55%
HYT
6.73%
7.94%
17.90%
1.94%
BTZ
6.50%
6.73%
20.37%
0.56%
BLW
6.87%
6.95%
14.72%
1.63%
BHK
6.97%
5.25%
20.31%
1.26%
BIT
7.55%
8.30%
0.44%
0.69%
Shareholders should not draw any conclusions about a Plan
Fund’s investment performance from the amount of the Plan Fund’s
current distributions or from the terms of a Plan Fund’s
Plan.
BKT has adopted a Plan whereby beginning August 2018 the Fund
will make fixed monthly distributions to common stockholders and
will distribute all available investment income to its
stockholders, consistent with its investment objective and as
required by the Code. The fixed amount distributed per share is
subject to change at the discretion of BKT’s Board. If
sufficient investment income is not available on a monthly basis,
the Fund will distribute long-term capital gains and/or return
capital to its stockholders in order to maintain a level
distribution. The Fund is currently not relying on any exemptive
relief from Section 19(b) of the 1940 Act. The Fund expects that
distributions under the Plan will exceed current income and capital
gains and therefore will likely include a return of capital. BKT
may make additional distributions from time to time, including
additional capital gain distributions at the end of the taxable
year, if required to meet requirements imposed by the Code and/or
the 1940 Act.
BKT’s estimated sources of the distributions paid as of December
19, 2019 and for its current fiscal year are as follows:
Estimated Allocations as of December
19, 2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BKT2
$0.034400
$0.024204 (70%)
$0 (0%)
$0 (0%)
$0.010196 (30%)
Estimated Allocations for the Fiscal
Year through December 19, 2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BKT2
$ 0.378400
$0.273733 (72%)
$0 (0%)
$ 0 (0%)
$0.104667 (28%)
2BKT estimates that it has distributed more than its income and
net realized capital gains in the current fiscal year; therefore, a
portion of the distribution may be a return of capital. A return of
capital may occur, for example, when some or all of a stockholder’s
investment is paid back to the stockholder. A return of capital
distribution does not necessarily reflect BKT’s investment
performance and should not be confused with ‘yield’ or ‘income’.
When distributions exceed total return performance, the difference
will reduce BKT’s net asset value per share.
The amounts and sources of distributions reported are only
estimates and are being provided to you pursuant to regulatory
requirements and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon BKT’s investment experience during the
remainder of its fiscal year and may be subject to changes based on
tax regulations. BKT will send its stockholders a Form 1099-DIV for
the calendar year that will illustrate how to report these
distributions for federal income tax purposes.
Fund Performance and Distribution Rate Information:
Fund
Average annual total return (in
relation to NAV) for the 5-year period ending on 11/29/2019
Annualized current distribution
rate expressed as a percentage of NAV as of 11/29/2019
Cumulative total return (in
relation to NAV) for the fiscal year through 11/29/2019
Cumulative fiscal year
distributions as a percentage of NAV as of 11/29/2019
BKT
3.30%
6.49%
7.71%
5.41%
No conclusions should be drawn about BKT’s investment
performance from the amount of the Fund’s distributions or from the
terms of the Fund’s Plan.
The amount distributed per share under a Plan is subject to
change at the discretion of the applicable Fund’s Board. Each
Plan will be subject to ongoing review by the Board to determine
whether the Plan should be continued, modified or terminated. The
Board may amend the terms of a Plan or suspend or terminate a Plan
at any time without prior notice to the Fund’s shareholders if it
deems such actions to be in the best interest of the Fund or its
shareholders. The amendment or termination of a Plan could have an
adverse effect on the market price of the Fund's shares.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, our clients turn to us for the
solutions they need when planning for their most important goals.
As of September 30, 2019, the firm managed approximately $6.96
trillion in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit www.blackrock.com/corporate
| Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock.
Availability of Fund Updates
BlackRock will update performance and certain other data for the
Funds on a monthly basis on its website in the “Closed-end Funds”
section of www.blackrock.com as well as certain other material
information as necessary from time to time. Investors and others
are advised to check the website for updated performance
information and the release of other material information about the
Funds. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the Funds and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to a Fund’s or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Funds or
in a Fund’s net asset value; (2) the relative and absolute
investment performance of a Fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to a Fund or BlackRock, as applicable; (8) terrorist activities,
international hostilities and natural disasters, which may
adversely affect the general economy, domestic and local financial
and capital markets, specific industries or BlackRock; (9)
BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide
support to its products from time to time; and (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect the Funds. The information
contained on BlackRock’s website is not a part of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20191219005599/en/
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